E247 - Follow the Money - Danny Motyka, Psychedelics - Exploring the Business Model
“This vision and purpose of improving access to psychedelic medicines for mental wellness turns a lot of investors on.”
After the Canadian legalization of cannabis, psychedelics are now a hot topic in the world of investing, with many people expecting big things from the industry. However, it is still a very speculative industry with no concrete market for psychedelics. This can make raising capital for a psychedelic plant medicine manufacturing facility quite challenging. And, historically, biotech companies have been focused in Toronto and Montreal, but Psygen is attracting investors to Western Canada - this is due in part to the enthusiastic psychedelic scene on the west coast. Psygen is also working with the University of Calgary to create Canada’s most prestigious psychedelic research hub to attract even more investment.